Search results for: assets formation

Authors: Khalid Kaddoura, Tarek Zayed

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Infrastructure assets are essential in urban cities; their purpose is to facilitate the public needs. As a result, their conditions and states shall always be monitored to avoid any sudden malfunction. Sewer systems, one of the assets, are an essential part of the underground infrastructure as they transfer sewer medium to designated areas. However, their conditions are subject to deterioration due to ageing. Therefore, it is of great significance to assess the conditions of pipelines to avoid sudden collapses. Current practices of sewer pipeline assessment rely on industrial protocols that consider distinct defects and grades to conclude the limited average or peak score of the assessed assets. This research aims to enhance the evaluation by integrating the Quality Function Deployment (QFD) and the Decision-Making Trial and Evaluation Laboratory (DEMATEL) methods in assessing the condition of sewer pipelines. The methodology shall study the cause and effect relationship of the systems’ defects to deduce the relative influence weights of each defect. Subsequently, the overall grade is calculated by aggregating the WHAT’s and HOW’s of the House of Quality (HOQ) using the computed relative weights. Thus, this study shall enhance the evaluation of the assets to conclude informative rehabilitation and maintenance plans for decision makers.

Keywords: condition assessment, DEMATEL, QFD, sewer pipelines

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Authors: Khaled Ramadan Elbeydi

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This study is carried out to provide an insight into the analysis of the impact of selected macro-economic variables on gross fixed capital formation in Libya using annual data over the period (1970-2010). The importance of this study comes from the ability to show the relative important factors that impact the Libyan gross fixed capital formation. This understanding would give indications to decision makers on which policy they must focus to stimulate the economy. An Auto-Regressive Distributed Lag (ARDL) modeling process is employed to investigate the impact of the gross domestic product, monetary base, and trade openness on gross fixed capital formation in Libya. The results of this study reveal that there is an equilibrium relationship between capital formation and its determinants. The results also indicate that GDP and trade openness largely explain the pattern of capital formation in Libya. The findings and recommendations provide vital information relevant for policy formulation and implementation aimed to improve capital formation in Libya.

Keywords: ARDL, bounds test, capital formation, co-integration, Libya

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Authors: Nasir Baba Ahmed, Nicolas Daclin, Marc Olivaux, Gilles Dusserre

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The Mobile field hospital is critical in terms of managing emergencies in crisis. It is a sub-section of the main hospitals and the health sector, tasked with delivering responsive, immediate, and efficient medical services during a crisis. With the aim to prevent further crisis, the assessment of the cyber assets follows different methods, to distinguish its strengths and weaknesses, and in turn achieve cyber resiliency. The work focuses on assessments of cyber resilience in field hospitals with trends growing in both the field hospital and the health sector in general. This creates opportunities for the adverse attackers and the response improvement objectives for attaining cyber resilience, as the assessments allow users and stakeholders to know the level of risks with regards to its cyber assets. Thus, the purpose is to show the possible threat vectors which open up opportunities, with contrast to current trends in the assessment of the mobile field hospitals’ cyber assets.

Keywords: assessment framework, cyber resilience, cyber security, mobile field hospital

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Authors: Gulcan Sahal, Isil Seyis Bilkay

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Candida species which often exist as commensal microorganisms in healthy individuals are major causes of important infections, especially in AIDS and immunocompromised patients, by means of their biofilm formation abilities. Therefore, in this study, determination of biofilm formation in different clinical strains of Candida species, investigation of strong biofilm forming Candida strains, examination of clinical information of each strong and weak biofilm forming Candida strains and investigation of some plant substances’ effects on biofilm formation of strong biofilm forming strains were aimed. In this respect, biofilm formation of Candida strains was analyzed via crystal violet binding assay. According to our results, biofilm levels of strains belong to different Candida species were different from each other. Additionally, it is also found that some plant substances effect biofilm formation. All these results indicate that, as well as C. albicans strains, other non-albicans Candida species also emerge as causative agents of infections and have biofilm formation abilities. In addition, usage of some plant substances in different concentrations may provide a new treatment against biofilm related Candida infections.

Keywords: anti-biofilm, biofilm formation, Candida species, biosystems engineering

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Authors: Amin Abbasi, Mahdi Asghari Ozma

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Background and Objective:Enterococcus faecium is a normal flora of the human gastrointestinal tract that causes infection in the host body under conditions such as biofilm formation, in which the use of antibiotics causes changes in these pathogenic mechanisms. In this study, we aimed to evaluate comprehensively the changes in E.faecium when exposed to sub-MIC of the gentamicin,especiallythe biofilm formation rate. Materials and Methods: For this study, the keywords "Enterococcus faecium ", "Biofilm", and "Gentamicin" in the databases PubMed, Google Scholar, Sid, and MagIran between 2015 and 2021 were searched, and 14 articles were chosen, studied, and analyzed. Results: Gentamicin significantly had increased biofilm formation in most of the isolates in the studies. Increased expression of the genes (efaA and esp) and proteins involved in biofilm formation and decreased expression of the genes (gelE and cylA) involved in spreading and proteins involved in metabolism and cell division in E.faecium were the most significant cause of the biofilm formation, which were increased in sub-MIC gentamicin-treated situation. Conclusion: Inadequate use of gentamicin intensify biofilm formation of E.faecium, which can make the treatment of infections caused by this bacterium difficult.

Keywords: biofilm, enterococcus faecium, gentamicin, proteome

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Authors: Antonios Katsianis

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I present the evolution of the galaxy Star Formation Rate Function (SFRF), star formation rate-stellar mass relation (SFR-M*) and Cosmic Star Formation Rate Density (CSFRD) of z = 0-8 galaxies employing both the Evolution and Assembly of GaLaxies and their Environments (EAGLE) simulations and a compilation of UV, Ha, radio and IR data. While I present comparisons between the above, I evaluate the effect and importance of supernovae/active galactic nuclei feedback. The relation between the star formation rate and stellar mass of galaxies represents a fundamental constraint on galaxy formation, and has been studied extensively both in observations and cosmological hydrodynamic simulations. However, a tension between the above is reported in the literature. I present the evolution of the SFR-M* relation and demonstrate the inconsistencies between observations that are retrieved using different methods. I employ cosmological hydrodynamic simulations combined with radiative transfer methods and compare these with a range of observed data in order to investigate further the root of this tension. Last, I present insights about the scatter of the SFR-M* relation and investigate which mechanisms (e.g. feedback) drive its shape and evolution.

Keywords: cosmological simulations, galaxy formation and evolution, star formation rate, stellar masses

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Authors: Yahya N. Alfraidi, Abdel Halim Boussabaine

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Climate change risk impacts are one of the most challenging aspects that faces the built environment now and the near future. The impacts of climate change on buildings are considered in four different dimensions: physical, economic, social, and management. For each of these, the risks are discussed as they arise from various effects linked to climate change, including windstorms, precipitation, temperature change, flooding, and sea-level rise. For example, building assets in cities will be exposed to extreme hot summer days and nights due to the urban heat island effect and pollution. Buildings also could be vulnerable to water, electricity, gas, etc., scarcity. Building materials, fabric and systems could also be stressed by the emerging climate risks. More impotently the building users might experience extreme internal and extern comfort conditions leading to lower productivity, wellbeing and health problems. Thus, the main aim of this paper to document the emerging risks from climate change on building assets. An in-depth discussion on the consequences of these climate change risk is provided. It is expected that the outcome of this research will be a set of risk design indicators for developing and procuring resilient building assets.

Keywords: climate change, risks of climate change, risks on building from climate change, buildings

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Authors: Philippe Gugler

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The aim of this study is to investigate how home country patterns may influence the competitiveness of EMNEs in international markets and more specifically their ability to invest abroad. The study examines the dynamic relationship between home country specific advantage and firms’ competitiveness. Are EMNEs still driven by strong country specific advantages or are EMNEs increasingly relying on their own firm specific competitiveness? EMNEs are not commonly recognized as a ‘homogeneous group’. Therefore, the approaches to these questions need to be specific while still attempting to extract some common evidence. The aim of the study is to elaborate a framework to investigate this issue in a dynamic context of international business’s strategies. The study focuses on two major research questions. The first one relates to the role of the home-base context in the internationalization process of EMNEs and more specifically the home-base assets’ influence on EMNEs competitiveness. Another question is to investigate the interactions among home-base context, recipient country context and EMNEs competitiveness. The evolution of EMNEs’ competitiveness is shaped by the evolution of the home country’s business environment. The nature of the home-based components in EMNEs’ specific advantages has changed over time due to the increased integration of emerging countries in the world market and the inherent changes related to their institutional, structural and regulatory patterns. The home country offers not only inherited assets but also a productive business environment, allowing firms to innovate, be more productive, create unique value for customers and finally, to face international competition successfully. The more sophisticated the home business environment is, the more opportunities there are for firms to developed exclusive and unique competitive assets. The international expansion of EMNEs is a fascinating but challenging issue. Among the numerous questions raised by the involvement of EMNEs in international competition is the evolving role of the home market. The purpose of this study is to examine some of the theoretical ideas and empirical evidence to allow us to deepen our understanding of the role of emerging home countries in the internationalization process of their domestic firms and more specifically in their ability to compete successfully abroad. How much do home specific assets still influence EMNEs’ foreign investment? Which home country assets provide the main competitive drivers to invest and compete abroad? How do EMNEs combine home country assets and host country assets to strengthen their competitive advantages? These questions as well as various others deserve further examination by the scientific community.

Keywords: competitiveness, emerging countries' multinational enterprises, foreign direct investments, international business

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Authors: Puji Sucia Sukmaningrum, Achsania Hendratmi, Noven Suprayogi, Muhammad Madyan

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Theoretically, Islamic banks in Indonesia and Malaysia not necessarily aware to the interest rate fluctuation, since they don’t use interest-based instruments. Both countries use dual banking system in which Islamic and conventional banking system are exist. This situation makes the profit-sharing level of the Islamic banks will be indirectly affected by the interest rate fluctuation from the conventional banks system. One of the risk management tools for anticipating the risk of interest rate fluctuation is gap management, which has purpose to narrow the difference between Rate Sensitive Asset (RSA) and Rate Sensitive Liability (RSL). This formed gap will give the information about the risk potential in Islamic banks which respect to the fluctuation on the interest rate. This study aims to determine the position of the gap formed at Islamic Maybank Indonesia and Islamic Maybank Malaysia, and analyze the difference in the formation of gap based on the period of sensitivity. This study is a quantitative research with comparative study using sensitivity gap analysis, independent sample t-test, and Mann-Whitney method. The data being used was secondary data from Maturity Profile contained in the Annual Financial Report of Islamic Maybank Indonesia and Islamic Maybank Malaysia from 2011 to 2015 period. The result shows that, cumulatively the formation of the gap was negative gap. From the results of independent sample t-test and Mann-Whitney, the formation of the gap in Islamic Maybank Indonesia and Islamic Maybank Malaysia for a period of sensitivity of ≤ 1 month and >1-3 months show a significant difference, while the period of sensitivity >3-12 months does not. The result shows, even though Indonesia and Malaysia using same dual banking systems, the gap values are different. The difference in debt policy between Indonesia and Malaysia also affecting the gap sensitivity in debt. In can be concluded that each country needs an appropriate gap management to support its Islamic banking performance specifically.

Keywords: assets and liability management, gap management, interest rate risk, Islamic bank

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Authors: Novawiguna Kemalasari, Ahmad Badawi Saluy

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Recent economic developments are more dependent on the value created by intangible assets than tangible company's assets. Intangible assets in question is intellectual capital that is recognized as the basis of individual, organizational, and general competition in the 21st century. The rapid global economy and technological innovations that have led to tough competition in the business world, make IC creation, management, measurement, and evaluation an important indicator in improving company performance that will affect the value of the company in the future. This study aims to determine the strong influence of intellectual capital on corporate performance, and how the influence of human capital on structural capital and relation capital. By distributing questionnaires to 100 employees of banking companies in Jakarta with middle and upper positions. Approach method used is Partial Least Square (PLS) Based on research that has been done, it can be concluded that human capital has influence on relation capital and structural capital. Similarly, the influence on the performance of the company turned out to human capital and relation capital has a significant influence, but structural capital has a non-significant effect on company performance.

Keywords: human capital, structural capital, relation capital, corporate performance

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Authors: F. S. Kadhim, A. Samsuri, H. Alwan

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Well logging records can help to answer many questions from a wide range of special interested information and basic petrophysical properties to formation evaluation of oil and gas reservoirs. The accurate calculations of porosity in carbonate reservoirs are the most challenging aspects of well log analysis. Many equations have been developed over the years based on known physical principles or on empirically derived relationships, which are used to calculate porosity, estimate lithology and water saturation; however these parameters are calculated from well logs by using modern technique in a current study. Nasiriya (NS) oilfield is one of giant oilfields in the Middle East, and the formation under study is the Mishrif carbonate formation which is the shallowest hydrocarbon bearing zone in the NS oilfield. Neurolog software (V5, 2008) was used to digitize the scanned copies of the available logs. Environmental corrections had been made as per Schlumberger charts 2005, which supplied in the Interactive Petrophysics software (IP, V3.5, 2008). Three saturation models have been used to calculate water saturation of carbonate formations, which are simple Archie equation, Dual water model, and Indonesia model. Results indicate that the Mishrif formation consists mainly of limestone, some dolomite and shale. The porosity interpretation shows that the logging tools have a good quality after making the environmental corrections. The average formation water saturation for Mishrif formation is around 0.4-0.6.This study is provided accurate behavior of petrophysical properties with depth for this formation by using modern software.

Keywords: lithology, porosity, water saturation, carbonate formation, mishrif formation

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Authors: Sean McCarthy, Patrice M. Ludwig, Will Watson

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This exploratory case study explores the deployment of Social Network Analysis (SNA) in mapping community assets in an interdisciplinary, undergraduate, team-taught course focused on income insecure populations in a rural area in the US. Specifically, it analyzes how students were taught to collect data on community assets and to visualize the connections between those assets using Kumu, an SNA data visualization tool. Further, the case study shows how social network data was also collected about student teams via their written communications in Slack, an enterprise messaging tool, which enabled instructors to manage and guide student research activity throughout the semester. The discussion presents how SNA methods can simultaneously inform both community-based research and social innovation pedagogy through the use of data visualization and collaboration-focused communication technologies.

Keywords: social innovation, social network analysis, pedagogy, problem-based learning, data visualization, information communication technologies

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Authors: Asit K. Sikary, O. P. Murty

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Adipocere formation is a modification of the process of putrefaction. It consists mainly of saturated fatty acids, formed by the post-mortem hydrolysis and hydrogenation of body fats with the help of bacterial enzymes in the presence of warmth, moisture and anaerobic bacteria. In temperate climate, it takes weeks to develop while in India it starts to begin within 4-5 days. In this study, we have collected cases with adipocere formation, which were from the South Delhi region (average room temperature 27-390C) and autopsied at our centre. Details of the circumstances of the death, cause and time of death, surrounding environment and demographic profile of the deceased were taken into account. Total 16 cases were included in this study. Adipocere formation was predominantly present over cheeks, shoulder, breast, flanks, buttocks, and thighs. Out of 16, 11 cases were found in a dry atmosphere, 5 cases were brought from the water. There were 5 cases in which adipocere formation was seen in less than 2 days, and among them, in 1 case, as early as one day. This study showed that adipocere formation can be seen as early as 1 day in a hot and humid environment.

Keywords: adipocere, drowning, hanging, humid environment, strangulation, subtropical climate

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Authors: Voronina Ekaterina Borisovna

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The problem of expressivity of advertising lexicon is studied in the article. The comparison of English and Russian advertising lexicons is done. The objects of the analysis were English and Russian advertising texts, both printed advertising texts and texts extracted from the commercials. Some conclusions concerning the expressivity of advertising lexicon were made. Expressivity can be included in the semantic structure of words or created by word-formation means. Expressivity caused by morphological derivatives includes such facilities as derivational affixes, models and types of word formation.

Keywords: advertising lexicon, expressivity, word-formation means, linguistics

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Authors: Ali Jamshidi, Kiyofumi Kurumisawa, Toyoharu Nawa

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Transportation infrastructure assets can be considered as backbone of transportation system. They are routinely developed and or maintained which can be used effectively for movement of passengers, commodities and providing vital services. However, the infrastructure assets construction, maintenance and rehabilitation significantly depend on non-renewable natural resources, such as carbon-based energy carriers and aggregate materials. In this study, effects of thermal properties of aggregate materials were characterized for production of hot-mix asphalt in Japan, as a case study. The results indicated that incorporation of the aggregate with lower required heat energy significantly reduces fuel consumption greenhouse gas emission, irrespective of physical property of aggregate. The results also clearly showed that as 75% high-energy limestone is replaced with low-energy limestone in producing an asphalt mixture at 180 °C, 97,879 Japanese households would be energized per annum using the saved energy without any modification in the current asphalt mixing plants.

Keywords: zero energy infrastructure, sustainable development, greenhouse gas emission, asphalt pavement

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Authors: Shruti Kohli

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The sophistication and pervasiveness of cyber-attacks are constantly growing, driven partly by technological progress, profitable applications in organized crime and state-sponsored innovation. The modernization of rail control systems has resulted in an increasing reliance on digital technology and increased the potential for security breaches and cyber-attacks. This research track showcases the need for developing a secure reusable scalable framework for enhancing cyber security of rail assets. A cyber security framework has been proposed that is being developed to detect the tell-tale signs of cyber-attacks against industrial assets.

Keywords: cyber security, rail asset, security threat, cyber ontology

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Authors: Mojtaba Rezaei, Elham Heydari

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This paper highlights the empirical results of analyzing the correlation between accounting information and systematic risk. This association is analyzed among financial ratios and systematic risk by considering the financial statement of 39 companies listed on the Tehran Stock Exchange (TSE) for five years (2014-2018). Financial ratios have been categorized into four groups and to describe the special features, as representative of accounting information we selected: Return on Asset (ROA), Debt Ratio (Total Debt to Total Asset), Current Ratio (current assets to current debt), Asset Turnover (Net sales to Total assets), and Total Assets. The hypotheses were tested through simple and multiple linear regression and T-student test. The findings illustrate that there is no significant relationship between accounting information and market risk. This indicates that in the selected sample, historical accounting information does not fully reflect the price of stocks.

Keywords: accounting information, market risk, systematic risk, stock return, efficient market hypothesis, EMH, Tehran stock exchange, TSE

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Authors: Razieh Niazmand, Dina Sadat Mousavian, Parvin Sharayei

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This study investigated the effect of carboxymethyl cellulose (CMC), tragacanth, and saalab hydrocolloids in two concentrations (0.3%, 0.7%) and different frying media, refined canola oil (RCO), RCO + 1% bene kernel oil (BKO), and RCO + 1 mg/l unsaponifiable matter (USM) of BKO on acrylamide formation in fried potato slices. The hydrocolloid coatings significantly reduced acrylamide formation in potatoes fried in all oils. Increasing the hydrocolloid concentration from 0.3% to 0.7% produced no effective inhibition of acrylamide. The 0.7 % CMC solution was identified as the most promising inhibitor of acrylamide formation in RCO oil, with a 62.9% reduction in acrylamide content. The addition of BKO or USM to RCO led to a noticeable reduction in the acrylamide level in fried potato slices. The findings suggest that a 0.7% CMC solution and RCO+USM are promising inhibitors of acrylamide formation in fried potato products.

Keywords: CMC, frying, potato, saalab, tracaganth

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Authors: Kritsada Moonpa, Kannipa Motanated, Weerapan Srichan

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Hong Hoi Formation is a Middle Triassic deep marine succession presented in outcrops throughout the Lampang Basin of northern Thailand. The primary goal of this research is to diagnose the paleoenvironment, petrographic compositions, and sedimentary sources of the Hong Hoi Formation in Ban Huat, Ngao District. The Triassic Hong Hoi Formation is chosen because the outcrops are continuous and fossils are greatly exposed and abundant. Depositional environment is reconstructed through sedimentological studies along with facies analysis. The Hong Hoi Formation is petrographically divided into two major facies, they are: sandstones with mudstone interbeds, and mudstones or shale with sandstone interbeds. Sandstone beds are lithic arenite and lithic greywacke, volcanic lithic fragments are dominated. Sedimentary structures, paleocurrent data and lithofacies arrangement indicate that the formation deposited in a part of deep marine abyssal plain environment. The sedimentological and petrographic features suggest that during the deposition the Hong Hoi Formation received sediment supply from nearby volcanic arc. This suggested that the intensive volcanic activity within the Sukhothai Arc during the Middle Triassic is the main sediment source.

Keywords: Sukhothai zone, petrography, Hong Hoi formation, Lampang, Triassic

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Authors: Gulcan Sahal, Nermin Hande Avcioglu, Isil Seyis Bilkay

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Klebsiella species which are natural colonizers of human upper respiratory and human gastrointestinal tracts are also responsible for every reoccurring nosocomial infections by means of having ability to form slimy layers known as biofilm on many surfaces. Therefore, in this study, investigation of biofilm formation in K. pneumoniae and K. rhinoscleromatis and examination of each Klebsiella strains’ clinical information in the light of their biofilm formation results were aimed. In this respect, biofilm formation of Klebsiella strains was analyzed via crystal violet binding assay. According to our results, biofilm formation levels of K. pneumoniae and K. rhinoscleromatis strains were different from each other. Additionally, in comparison to K. rhinoscleromatis strains, K. pneumoniae was observed to include higher amounts of strong biofilm forming strains. Besides, it was also seen that clinical information of patients from which strong biofilm forming Klebsiella strains were isolated were similar to each other. Our results indicate that there should be more precautions against K. pneumoniae which includes higher amount of strong biofilm forming strains.

Keywords: biofilm formation, Klebsiella pneumoniae, Klebsiella rhinoscleromatis, biosystems engineering

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Authors: Gulcan Sahal, Behzad Nasseri, Ali Akbar Ebrahimi, Isil Seyis Bilkay

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Proteus mirabilis strains which are natural colonizers of healthy individuals’ gastrointestinal tract are also known as common causes of catheter-associated urinary tract infections. Nowadays, as a result of an increased resistance to various antimicrobial drugs, there has been a growing interest in natural products. Therefore, the aim of this study is to investigate biofilm formation of P. mirabilis strains on lemongrass oil containing polycaprolactone nanofibers. Polycaprolactone nanofibers with different lemongrass oil concentrations were successfully prepared by electrospinning and biofilm formation of P. mirabilis on these nanofibers were determined by ‘Crystal Violet Staining Assay’. According to our results, polycaprolactone nanofibers with some lemongrass oil concentrations, decreased biofilm formation of P. mirabilis and this effect increased in parallel with the increase in lemongrass oil concentration. Our results indicate that, polycaprolactone nanofibers with some concentrations of lemongrass oil may provide a treatment against catheter-associated urinary tract infections by means of causing an inhibition on biofilm formation of P. mirabilis.

Keywords: anti-biofilm, biofilm formation, essential oils, nanofibers, proteus mirabilis

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Authors: Cesar Julio Recalde

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Background: The role of intangible assets in today´s society is undeniable and continuously growing. More than 80% of corporate market is related to intellectual capital(IC). However, corporate governance principles and practices seem strongly based and oriented towards tangible assets. The impact of intangible assets on corporate governance might require prevention and adaptative actions. Adherence to voluntary mechanisms of intellectual capital reporting (ICR) seems to be a gateway towards adapting corporate governance to intangible assets influence and a conceptual cornerstone. The impact of adherence to intellectual capital reporting on corporate governance and performance needs to be evaluated. Purposes: This work has a sequential two folded purpose: (1) exploring the influences exerted by IC on corporate governance theory and practice, and within that context (2) analyzing the impact of adherence to voluntary mechanisms of ICR on corporate governance. Design and summary: This work employs the theory of the firm and agency theory in order to conceptually explore the effects of each dimension of IC on key corporate governance issues, namely property rights and control by shareholders and residual claims by stakeholders, fiduciary duties of management and the board, opportunistic behavior and transparency. A comprehensive IC taxonomy and map is presented. Within the resulting context, internal and external impact of ICR on corporate governance and performance is conceptually analyzed. IRC constraint and barriers are identified. Intellectual liabilities are presented within the context of IRC. Finally, IRC regulatory framework is surveyed. Findings: Relevant conclusions were rendered on the influence of intellectual capital on corporate governance. Sufficient evidence of a positive impact of IRC on corporate governance and performance was found. Additionally, it was found that IRC exerts a leveraging effect on IC itself. Intellectual liabilities are insufficiently researched and seem to have a relevant importance on IC measuring. IRC regulatory framework was found to be insufficiently developed to capture the essence of intangible assets and to meet corporate governance challenges facing IC. Originality: This work develops a progressive approach to conceptually analyze the mutual influences between IC and corporate governance. An epistemic ideogram represents the intersection of analyzed theories. An IC map is presented. The relatively new topic of intellectual liabilities is conceptually analyzed in the context of IRC. Social liabilities and client liabilities are presented.

Keywords: corporate governance, intellectual capital, intellectual capital reporting, intellectual assets, intellectual liabilities, voluntary mechanisms, regulatory framework

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Authors: Onur Arugaslan, Ajay Samant, Devrim Yaman

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Financial advisors and investors seek new assets which could potentially increase portfolio returns and decrease portfolio risk. Cryptocurrencies represent a relatively new asset class which could serve in both these roles. There has been very little research done in the area of the risk/return tradeoff in a portfolio consisting of fixed income assets, stocks, and cryptocurrency. The objective of this study is a rigorous examination of this issue. The data used in the study are the monthly returns on 4-week US Treasury Bills, S&P Investment Grade Corporate Bond Index, Bitcoin and the S&P 500 Stock Index. The methodology used in the study is the application Modern Portfolio Theory to evaluate the risk-adjusted returns of portfolios with varying combinations of these assets, using Sharpe, Treynor and Jensen Indexes, as well as the Sortino and Modigliani measures. The results of the study would include the ranking of various investment portfolios based on their risk/return characteristics. The conclusions of the study would include objective empirical inference for investors who are interested in including cryptocurrency in their asset portfolios but are unsure of the risk/return implications.

Keywords: financial economics, portfolio diversification, fixed income securities, cryptocurrency, stock indexes

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Authors: Vadim Vagin, Marina Fomina, Oleg Morosin

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This paper contains the description of argumentation approach for the problem of inductive concept formation. It is proposed to use argumentation, based on defeasible reasoning with justification degrees, to improve the quality of classification models, obtained by generalization algorithms. The experiment’s results on both clear and noisy data are also presented.

Keywords: argumentation, justification degrees, inductive concept formation, noise, generalization

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Authors: Y. Johnson

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Study of multi-satellite formation flight systems has drawn wide attention recently due to so many potential advantages. The present work aims to model the relative motion dynamics in terms of change in classical orbital parameters between the two satellites-chief and deputy- under Earth’s oblateness effect. The required impulsive thrust control is calculated to minimize these orbital parameter changes. The formation configuration is initialized by selecting a set of orbital parameters for the chief and deputy satellites such that bounded motion is maintained for a long time in a J_2-invariant relative non-circular orbit between the satellites. The solution of J_2-modified Hill’s equations is also derived in this paper.

Keywords: satellite, formation flight, j2 effect, control

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Authors: A. Hidalgo, A. Desportes, E. Bonin, A. Kadaoui, T. Bouaricha

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Present paper is concerned with portfolio management with Black-Litterman (B-L) model. Considered stocks are exclusively limited to large companies stocks on US market. Results obtained by application of the model are presented. From analysis of collected Dow Jones stock data, remarkable explicit analytical expression of optimal B-L parameter τ, which scales dispersion of normal distribution of assets mean return, is proposed in terms of standard deviation of covariance matrix. Implementation has been developed in Matlab environment to split optimization in Markovitz sense from specific elements related to B-L representation.

Keywords: Black-Litterman, Markowitz, market data, portfolio manager opinion

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Authors: John Segars

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Built out of a real-world need to have better, more detailed, asset and infrastructure documentation, this project will lay out the case for using the database functionality of ArcGIS as a tool to track and maintain infrastructure location, status, maintenance and serviceability. Workflows and processes will be presented and detailed which may be applied to an organizations’ infrastructure needs that might allow them to make use of the robust tools which surround the ArcGIS platform. The end result is a value-added information system framework with a geographic component e.g., the spatial location of various I.T. assets, a detailed set of records which not only documents location but also captures the maintenance history for assets along with photographs and documentation of these various assets as attachments to the numerous feature class items. In addition to the asset location and documentation benefits, the staff will be able to log into the devices and pull SNMP (Simple Network Management Protocol) based query information from within the user interface. The entire collection of information may be displayed in ArcGIS, via a JavaScript based web application or via queries to the back-end database. The project is applicable to all organizations which maintain an IT infrastructure but specifically targets post-secondary educational institutions where access to ESRI resources is generally already available in house.

Keywords: ESRI, GIS, infrastructure, network documentation, PostgreSQL

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Authors: Abbas R. Ali, Diana A. Bayiz

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14 mudstone samples were collected within the sedimentary succession of Mukdadiya Formation (Late Miocene – Early Pliocene) from Shewasoor area at Northeastern Iraq. The samples were subjected to laboratory studies including mineralogical analysis (using X-ray Diffraction technique) in order to identify the clay mineralogy of Mukdadiya Formation of both clay and non-clay minerals. The results of non-clay minerals are: quartz, feldspar and carbonate (calcite and dolomite) minerals. The clay minerals are: montmorillonite, kaolinite, palygorskite, chlorite, and illite by the major basal reflections of each mineral. The origins of these minerals are deduced also.

Keywords: Mukdadiya Formation, mudstone, clay minerals, XRD, Shewasoor

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Authors: Yasmine Essafi Zouari, Aya Nasreddine

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Following a long inflationary period from the post-war era to the mid-1980s (+10.1% annually), France went through a moderate inflation period between 1986 and 2001 (+2.1% annually) and even lower inflation between 2002 and 2016 (+1.4% annually). In 2022, inflation in France increased rapidly and reached 4.5% over one year in March, according to INSEE estimates. Over a long period, even low inflation has an impact on portfolio value and households’ purchasing power. In such a context, inflation hedging should remain an important issue for investors. In particular, long-term investors, who are concerned with the protection of their wealth, seek to hold effective hedging assets. Considering a mixed-asset portfolio composed of housing assets (residential real estate in 150 Grand Paris communes) as well as financial assets, and using both correlation and regression analysis, results confirm the attribute of the direct housing investment as an inflation hedge especially particularly against its unexpected component. Further, cash and bonds were found to provide respectively a partial and an over hedge against unexpected inflation. Stocks act as a perverse hedge against unexpected inflation and provide no significant positive hedge against expected inflation.

Keywords: direct housing, inflation, hedging ability, optimal portfolio, Grand Paris metropolis

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Authors: Inkyu Kim, SangMan Moon

Abstract:

This IEEE 802.11b protocol provides up to 11Mbps data rate, whereas aerospace industry wants to seek higher data rate COTS data link system in the UAV. The Total Maximum Throughput (TMT) and delay time are studied on many researchers in the past years This paper provides theoretical data throughput performance of UAV formation flight data link using the existing 802.11b performance theory. We operate the UAV formation flight with more than 30 quad copters with 802.11b protocol. We may be predicting that UAV formation flight numbers have to bound data link protocol performance limitations.

Keywords: UAV datalink, UAV formation flight datalink, UAV WLAN datalink application, UAV IEEE 802.11b datalink application

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